GIP buys 25% stake in Scotia Gas Networks
SGN is UK’s second largest distributor
Global Infrastructure Partners has acquired a 25% stake in Scotia Gas Networks from OMERS.
SGN is the second largest gas distribution network in the UK, and owns Scotland Gas Networks and Southern Gas Networks, two of the eight regulated gas distribution networks in England, Wales and Scotland.
They operate under a licence from Ofgem to distribute gas through their infrastructure network. SGN serves nearly six million homes and businesses.
GIP makes equity and debt investments in assets and businesses across the energy, transport and waste management sectors and owns Edinburgh and Gatwick Airports. It manages approximately $77 billion for its investors.
The transaction is expected to complete within the current financial year.